Senior Complex Claims Specialist (New York Labor Law)

Berkley • Morristown, NJ

100d

About The Position

Vela Insurance Services provides specialized Excess and Surplus Lines Casualty and Professional Liability insurance solutions in the following four market segments: Construction, Specialty Casualty, Velocity Small Business & Professional Liability. We offer national service and local knowledge to our exclusive wholesale broker network and the businesses they serve. The Ideal Complex Claims Specialist will have 8 or more years of commercial general liability claims experience, with significant experience in complex coverage and litigated claims. Specific knowledge and expertise in New York Labor law and construction related claims are critical to this role. New York Adjuster License a plus. Candidates must be capable of working under limited supervision and working with a remote manager. In this role, the claims professional investigates, evaluates, negotiates, and resolves litigated and non-litigated bodily injury, property damage, personal and advertising injury, and claims of high exposure and complexity.

Requirements

• Four (4) year College Degree, or commensurate experience and training; JD preferred but not required.
• Eight (8) or more years claims handling experience or equivalent experience.
• In-depth knowledge of the insurance industry, including legal and regulatory environments.
• Strong functional and developing knowledge of substantive laws and legal procedures.
• Possess and maintain required adjuster licensing in various states.

Nice To Haves

• Industry designations preferred (CRIS, AIC, SCLA, etc.)

Responsibilities

• Investigate, evaluate, negotiate, and resolve litigated and non-litigated claims.
• Analyze coverage, identify coverage issues, and prepare coverage letters for supervisor approval.
• Focus on specialized claims in construction defect.
• Investigate and evaluate liability and damages.
• Manage litigation by assigning counsel from the approved panel, establishing litigation plans and budgets, and coordinating with defense counsel.
• Establish timely reserves within authority and re-evaluate throughout the life of the claim.
• Maintain up-to-date file documentation and written file notes.
• Maintain an active diary and productive file inventory.
• Complete all required large loss reporting in a timely manner.
• Negotiate settlements within authority limit and attend mediations, Mandatory Settlement Conferences, and/or Alternative Dispute Resolutions.
• Proactively control the work product and expense of outside vendors.
• Develop and maintain positive customer relationships and provide superior customer service.
• Identify opportunities for co-insurance, transfer of risk, and/or subrogation.
• Recognize and investigate fraud.
• Comply with deductible/self-insured retention recovery protocol.
• Meet all State licensing requirements and adhere to all statutory regulations, Unfair Claims Practices acts, and corporate Best Practices.

Benefits

• Health, Dental, Vision, Life, Disability, Wellness, Paid Time Off, 401(k) and Profit-Sharing plans.
• Eligible to participate in the annual discretionary bonus program.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Administrative and Support Services
• Education Level: Bachelor's degree